Monitoring socioeconomic readiness for the demographic transition: Introducing the Senior Economy Tracker

D. Roch Dupré, E. Aracil, P. Calvo-Báscones

Structural Change and Economic Dynamics Vol. 71, pp. 430 - 443

Summary:

Aging constitutes the dominant demographic challenge globally. The demographic transition entails a paradigm shift in the economic model to accommodate economic structures to life-expectancy gains. The socioeconomic implications from this transition remain largely undefined conceptually from an integrated perspective and unrecognized in official statistics. This study introduces a multidimensional and multi-actor reference framework, and a composite indicator, the Senior Economy Tracker (SET), to measure national readiness and progress in adapting to the demographic transition, over time and across countries. We apply our indicator to 27 European countries in 2010-2021. Our study reveals crucial differences in pathways and stages of maturity in addressing the socioeconomic impacts of aging. The proposed indicator aims to guide action to adapt economic structures to longer life spans, assist organizational and individual decision making, facilitate the development of effective policy interventions and raise awareness of the demographic transition.

Spanish layman's summary:

Introducimos un marco conceptual para las implicaciones socioeconómicas de la longevidad y un indicador compuesto: el Senior Economy Tracker (SET).
El SET evalúa el avance regional para adaptarse a la longevidad, orienta la formulación de políticas y conciencia sobre el reto demográfico.

English layman's summary:

We offer a framework for the socioeconomic implications of aging populations. We introduce a composite indicator: the Senior Economy Tracker (SET).

The SET assesses inter/intra-regional readiness in adapting to longevity, guides policymaking and raises awareness of the demographic challenge.

Keywords: Aging; Demographic transition; Composite indicators; Senior; Older adults

JCR Impact Factor and WoS quartile: 5,000 - Q1 (2023)

DOI reference: https://doi.org/10.1016/j.strueco.2024.08.007

Published on paper: December 2024.

Published on-line: August 2024.

Citation:
D. Roch Dupré, E. Aracil, P. Calvo-Báscones, Monitoring socioeconomic readiness for the demographic transition: Introducing the Senior Economy Tracker. Structural Change and Economic Dynamics. Vol. 71, pp. 430 - 443, December 2024. [Online: August 2024]